Steve Hawkes
2 for 1 tickets to Singin' In The Rain, this coming Monday. Book now
Nearly half a million shoppers have flocked through the door of Primark’s flagship store in Oxford Street since the opening that sparked a melee among thousands of customers less than three weeks ago.
Associated British Foods (ABF), Primark's owner, revealed the stunning figure today as it laid out plans for a “significant expansion” of the budget fashion business.
More than 50,000 people shopped at the store on opening day alone, despite vast queues outside as mounted police and security staff restrained bargain hunters.
John Bason, ABF's finance director, told Times Online: “We’re thrilled by the fact that so many people have wanted to get in, there’s no doubt about that.”
Primark currently operates 161 stores across the UK after converting 40 sites from Littlewoods.
But Mr Bason said Primark was “still short in the major towns and cities”. ABF plans to open a minimum ten stores a year with eight between now and Christmas, including an 80,000 sq foot site in Liverpool this autumn.
“We’ll be continuing to grow over the next three to four years,” he added.
Half-year results from ABF today showed that sales at Primark surged 36 per cent to £721 million in the six months to March 3 while operating profits climbed 28 per cent to £91 million.
Pre-tax profits across ABF as a whole climbed 7 per cent to £272 million despite a slump in its grocery division, which owns the Ovaltine, Twinings tea, Silver Spoon sugar and Kingsmill bread brands.
Kingsmill was relaunched in February after being hit by higher wheat costs and increased competition, which pushed sales below expectations.
ABF’s sugar operations, which generate a quarter of group profits, were boosted by higher profits from China and Poland and a first-time contribution from Illovo, the African cane sugar producer.
This offset a big cut in support prices from within the European Union. ABF bought a 51 per cent stake in Illovo last September.
George Weston, ABF's chief executive, said: “This is a god set of results.
“The satisfactory growth in revenue and operating profit in the first half reflects the substantial investment made by the group in capital and acqusitions last year.”
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mark regarding your views on primark, i personally wouldnt touch their clothes with a barge pole. Cheap they certainly are. Good quality? Ok if you dont mind clothes that shrink, or fall to bits after a few washes. Unfortunately a lot of us in this country cant afford the luxury of being able to shop in more expensive stores. I personally despise the exploitation of slave labour anywhere in the world.
jacqueline clark, london, england
I'd like Primark to come clean about it's almost slave labour factories in China and elsewhere around the world. Whilst people in the UK are enjoying cheap clothes prices, the people making them are earning on average 30$ US a month! I hope you all feel comfortable in your cheap wears!!
Mark Smith, Shanghai, China